Shiba Inu Bulls Defend Key $3 Billion Support Amid Zero Deletion Scenario

Market Analysis

Shiba Inu (SHIB) is trying to restart growth that should erase yet another zero from the coin's price and lift its market capitalization to $7 billion. After a powerful surge in the third quarter (+39.3%), the token went into a correction. Its market capitalization is now holding at $3.05 billion, while the price has frozen around $0.00000516.

Precedent & Market Context

The disappearance of Shiba Inu's pseudonymous creator, Ryoshi, has sparked a mystery that has been unfolding since May 2022. Mazrael, a long-time community member, has clarified that any content attributed to Ryoshi after the deletion of his tweets and Medium posts may not be from him.

Technical Analysis

For the zero-erasing scenario to come back to life, buyers need one clear signal: closing the current week above the 23-week moving average (the green line). The price has now fallen below this level. Below it, the last line of defense is the round mark of $0.00000500, which keeps the market capitalization near the key $3 billion support.

Market Sentiment

There is no panic inside the blockchain itself. On the contrary, large players are using the drop to accumulate coins. Over the past 24 hours, investors withdrew another 51 billion tokens from exchanges to their own wallets. At the same time, the fate of this push toward $7 billion lies in the hands of a very narrow club. Blockchain statistics show that 94.6% of all SHIB coins are controlled by just 798 large wallets.

Conclusion

As long as these holders (among them exactly 310 dollar millionaires) are not selling their coins, a supply shortage is building in the market. As soon as they push the price above the green line, it will become a signal for the mass retail market, which will then drive the remaining capital toward the target billions.